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Government raises unexpected profit tax on diesel exports, ATF; raises tax on domestic crude oil

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  • The levy on domestically produced crude oil has also been increased by 3,000 per tonne to 11,000.
  • The cabinet has raised the unexpected profit tax on diesel exports from 5 per liter to 12 per litre.
  • India contingency tax imposed on 1 July for the first time.


The government on Saturday raised the exceptional profit tax on diesel exports to 12 per liter, effective October 16, and on jet fuel exports to 3.50 per litre.

The levy on domestically produced crude oil has also been increased by 3,000 per tonne to 11,000.

After lowering tax rates for two consecutive fourteen days to reflect the decline in global crude prices, Ministry of Finance has led to an increase in export duties on crude oil, diesel and ATFin his latest review.

In its seventh biweekly review, the government has raised the windfall profit tax on diesel exports from 5 per liter from 12 per liter and reduced the ATF (Aviation Turbine Fuel) export tax of 3.50 per liter from nil, it said. Ministry of Finance in a message.

While private refineries Reliance Industries Ltd and Rosneft-based Nayara Energy are the main exporters of fuels such as diesel and ATF, the windfall tax on domestic crude oil producers such as state-owned companies Oil and natural gas company (ONGC) and Vedanta Ltd.

India first imposed contingency income taxes on July 1, joining a growing number of countries taxing supernormal profits from energy companies. But international oil prices have since cooled, eroding the profit margins of both oil producers and refiners.

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